INR 97 Crore Exit: Elevation Capital Trims ixigo Holdings Again

In a block transaction valued at INR 97.44 Cr, VC company Elevation Capital, formerly SAIF Partners India, sold more than 53.98 lakh shares of online travel aggregator (OTA) ixigo on June 19.

In contrast to the stock's last closing price of 180.65 on the BSE on June 18, the investment firm, through Saif Partners India IV Limited, sold the shares at INR 180.50 per share, according to BSE data.

Schroder International Selection Fund Asian Total Return purchased 53.69 lakh shares of the shares that flooded the market at the same price, for a total of INR 96.9 Cr.

One of the largest investors in Le Travenues Technology Ltd, the parent firm of the travel technology company, is Elevation Capital. By the conclusion of the March quarter of 2025, it held a 14.02% interest in ixigo. Elevation Capital has divested its stake in the company for the second time in the past month. For INR 38.27 Cr, the venture capital firm sold over 21.5 lakh shares of ixigo in May.

ixigo Witnessing Upward Trend

Due to increased profitability and a growing top line, ixigo's shares have been rising at the time of the block purchase. The company's stock is up 5.19% year-to-date (YTD), and its shares have soared 31.56% in the last three months.

Since going public last year, the stock has increased by more than 89% from its INR 93 listing price.

In terms of finances, the OTA's consolidated net profit jumped 127% from INR 7.4 Cr in the previous quarter to INR 16.8 Cr in Q4 FY25. From INR 164.9 Cr in Q4 FY24 to INR 284.1 Cr in the reviewed quarter, operating revenue increased by 72%.

ixigo's Recent Business Developments

ixigo was first established in 2007 by Aloke Bajpai and Rajnish Kumar as a travel search engine to assist users in comparing airfares. Later, it changed course and became an online travel agency (OTA), allowing customers to buy hotel rooms, vacation packages, and tickets for flights, trains, and buses.

Additionally, it offers automated customer service and tailored recommendations. The corporation claims to have 83 million monthly active users and 544 million annual active users.

Hotel and flight reservations to Turkey and Azerbaijan were suspended by the travel technology company, which competes with MakeMyTrip and EaseMyTrip, last month as these countries supported Pakistan during recent Indo-Pak escalations.

ixigo management stated on their Q4 results call that if the circumstances alter, the company will reevaluate its position.

This transaction is representative of a new stage in the lifecycle of Indian entrepreneurs, one that combines global asset manager involvement, VC returns, and post-IPO investor trust.

Now that more than 100 Indian firms have joined the unicorn club, attention is focused on those that scale, sustain, and generate profits.

For the upcoming generation of Indian entrepreneurs, ixigo's transformation from a resilient OTA startup to a publicly traded company drawing in foreign investment provides an encouraging path forward.